MyHome supporting 1000 Tasmanians into home ownership

The 1000th Tasmanian has officially realised the dream of home ownership through the Tasmanian Liberal Government’s MyHome shared equity program. 

Minister for Housing and Planning, Felix Ellis, said MyHome is backing in everyday Tasmanians to take the crucial first step onto the property ladder. 

“Home ownership helps families achieve stability and security. A home of your own helps you put down roots and drives wealth creation for everyday Tasmanians,” Minister Ellis said. 

“Today I met with Jarrod, who, with his partner Billy, were able to break into the market and achieve their dream of owning their own home through the MyHome program. 

“Without the MyHome program, Jarrod and Billy would’ve been waiting another five years before they could afford their new home. 

“Under this Tasmanian Liberal Government’s 2030 Strong Plan for Tasmania’s Future, getting more roofs over the heads of Tasmanians is a top priority. 

“That’s why we’ve committed to growing the program by increasing the Government’s shared equity contribution and raising the income limits for all eligible purchasers of new homes,” he said. 

The Tasmanian Government’s shared equity contribution will increase from $200 000 to $300 000, or 40 per cent (whichever is the lesser amount), of the purchase price for new homes or house and land packages. 

The household income limit will also increase by 25 per cent for eligible applicants building or buying brand new homes. Currently set at $93 547 for a single or $107 580 for a couple, these will increase to $116 934 and $134 475 respectively. 

These changes will come into effect from 1 July 2024.   

“MyHome has shown itself to be an incredibly popular program that is supporting Tasmanians to enter private home ownership," Minister Ellis said. 

 
“This Government will continue to work day and night to help Tasmanians achieve the dream of home ownership under our 2030 Strong Plan for Tasmania’s Future."